Ms. Korotoumou (the woman sitting in the second row all the way on the right in the photo) is a major rice seller in the town of N'gara and its surroundings. She intends to use her loan to buy two sacks of rice from the farmers at the market fair in Konodimini. She resells the rice in cash and on credit at her home and at the market in Konodimini to a clientele composed mainly of women. Ms. Korotoumou hopes to realize an average monthly profit of 20,000 FCFA with this loan, which will be used to reinvest in her business and provide for the children in her household.
Madame Korotoumou (femme assise en haut sur la photo à l’extrême droite) est une grande vendeuse de riz dans le village de N’gara et ses environnants. Elle compte utiliser son prêt pour acheter 2 sacs de riz avec les exploitants à la foire de Konodimini. La revente se fait au comptant et à crédit à domicile et dans la foire de Konodimini à une clientèle composée majoritairement de femmes. Madame Korotoumou espère réaliser un bénéfice mensuel moyen de 20 000 FCFA avec ce prêt, qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien des enfants du foyer.
Important InformationSoro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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